Brokerages Set Barrick Gold Corp (NYSE:GOLD) PT at $24.82

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $24.82.

Several equities research analysts recently issued reports on GOLD shares. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Scotiabank decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th.

Barrick Gold Stock Down 0.4 %

GOLD stock opened at $15.68 on Wednesday. The company’s 50 day simple moving average is $17.71 and its 200-day simple moving average is $18.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.35. The firm has a market capitalization of $27.30 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.47 and a beta of 0.53.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio is 43.01%.

Hedge Funds Weigh In On Barrick Gold

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Barrick Gold by 3.7% during the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after buying an additional 666,214 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Barrick Gold by 3.3% in the second quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock worth $242,491,000 after acquiring an additional 461,406 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after purchasing an additional 2,854,055 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Barrick Gold by 221.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after purchasing an additional 6,904,934 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.